Ques - 2: Tipton's 1996 balance sheet with the estimations assuming no borrowings* Answer . 1995 1996 in "000 in 9/0 in "000 in 9/0 ASSETS Cash &Mkt Sec 3,000.00 7.06 %/0 3 , 200.00 6. 81 %/0 A / Creceivable* 8,000.00 18. 82%/0 11 , 250. 00 23.95 %/0 Inventory 1 1, 500.00 27.06%/0 8, 130.00 17. 31%/0 Current Assets 22, 500.00 52. 94 %/0 22 , 580.00 18.06%/0 Fixed Assets 24,000.00 56. 47%/0 29,000.00 61 . 73%/0 Depreciation 1,000.00 9.41 % 4, 600. 00 9. 79%/6 Net Fixed Assets 20, 000.00 17.06 %/0 24 , 400.00 51.94 %/0 Total Assets $2, 500. 00 100. 00 %/ 16, 980. 00 100 .00 % Liabilities & payables Notes Payable* 0.00 9/ 0 450.00 0. 96%/0 A / C Payable* 9.500.00 22. 35 %/} 7, 590. 00 16. 16%/0 Accrual 3,0.00.00 7.06%/0 3 , 190.00 6.79%/0 Current Liabilities 12, 500. 00 29. 41%/0 1 1 , 230. 00 23. 90%/0 Non - current liability* Bond Common Stock 20, 000. 00 $7. 06%/} 28 , 200.00 60.03%/0 Retain Earning* 10,000.00 23.53%/0 7, 550. 00 16.07 9/0 Total Liability and Shareholder's Equity* 42, 500. 00 100. 00%/0 46, 980. 00 100. 0.0 9/ 0